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1505 Sunday Silence Drive Knightdale, NC 27545

3 Beds 3 Baths 2,200 sqft Built 2012

$270,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $122.73
  • 4 Days on Market
  • MLS # : 2362829
  • Updated Date : 01/23/2021 at 16:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full , 1 half
Listing Agent

Raleigh Cary Realty Inc.

Listing Agent's Description

Beautiful & well maintained three bedroom home with desirable open floor plan. Main floor offers spacious great room open to stunning kitchen with island, stainless steel appliances and breakfast area. Second floor master suite with walk-in shower and tray ceiling, loft area and two additional bedrooms. Property features screened-in porch and extended patio. Home won yard of the month two times.

SEE MORE

MARKET HIGHLIGHTS

  • Raleigh-Durham combined metros' economy is worth over $137 billion in Gross Metro Product and projected to grow to $146 billion in 2019 (USMayors.org, 2018)
  • Raleigh-Durham combined metros has 65.3% labor force participation rate higher than the national rate of 62.8% (USMayors.org, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Raleigh-Durham combined metros contribute to 24.1% of North Carolina's state economy i.e. Gross State Product (USMayors.org, 2018)
  • University of North Carolina, Duke University and Davidson University systems drive rental demand
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Churchill

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $121k265k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Churchill

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9461676

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Knightdale Elementary School Primary Regular 750 54 NA
East Wake Middle School Middle Regular 884 56 2
Knightdale High School High Regular 1,672 99 2

Knightdale Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 54
NA
GreatSchools Rating

East Wake Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 56
2
GreatSchools Rating

Knightdale High School

  • Education Level: High
  • # of students: 1,672
  • # of teachers: 99
2
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$938
Property Tax -$231
Property Insurance -$70
HOA -$45
Property Management Fees -$119
CASH FLOW
$278

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$42,931

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,680

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6804$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1505 Sunday Silence Drive Knightdale, NC 3
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.76
    •  
  • 2108 Old Rosebud Drive Knightdale, NC 1
    • 3 beds 3 baths ∙ 2,088 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,088 Sqft ∙ Built 2010
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
  • 2438 Ferdinand Drive Knightdale, NC 2
    • 3 beds 3 baths ∙ 2,396 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,396 Sqft ∙ Built 2008
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 702 Crosstie Street Knightdale, NC 4
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2008
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 2418 Ferdinand Drive Knightdale, NC 5
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2007
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
PROPERTY LISTING DETAILS
George Wilson
1.919.439.0965
Raleigh Cary Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2362829
Last Updated: 01/23/2021
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